Expedia’s gloomy results late Thursday sparked a number of price target and earnings cuts from analysts, who expressed concern about the fallout from three major players entering the brand marketing space: Priceline’s (NASDAQ:PCLN) Booking.com, TripAdvisor (NASDAQ:EXPE) and Expedia’s own trivago.

“While trivago is making up the shortfall, increasingly competitive environment and investment mode put pressure on margins,” Jefferies analyst Brian Fitzgerald wrote in a note to clients.

Jefferies kept its “hold” rating on Expedia, but slashed its price target to $59 from $68 cut its 2013 and 2014 financial targets. The investment bank now sees non-GAAP EPS of $3.09 in 2013 on revenue of $4.69 billion, both of which are below consensus.

Lazard downgraded Expedia to "underperfom" from "buy," while J.P. Morgan Chase (NYSE:JPM) cut its price target to $55 from $65 and kept its "neutral" rating, according to Reuters.

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“We knew we were facing Q2 headwinds and those which we expected, as well as some we didn’t, materialized,” Expedia CEO Dara Khosrowshahi said in a statement.

Expedia said its gross bookings jumped 13% year-over-year to $10.12 billion. While international bookings soared 23% to $4.27 billion, domestic bookings were up by a more muted 7% to $5.85 billion.

The travel company reported a non-GAAP profit of 64 cents a share last quarter, widely missing the Street’s view of 81 cents. Expedia's revenue of $1.21 billion also trailed forecasts for $1.26 billion.

Shares of Bellevue, Wash.-based Expedia tumbled 22.41% to $50.45 Friday morning, knocking them almost 18% in the red on the year. Priceline slid 2.71% to $887.79.